About LTCF Chain

The LTCF Chain is a future-oriented data economy basic chain. Based on the distributed characteristics of the blockchain, cryptography and other technical means and token design, it provides a new blockchain solution for the development of the data economy and leads the development of data services. New changes. Focusing on issues such as data ownership distribution, data leakage, data authenticity, and data incentives in the existing data economy, the LTCF Chain team has developed a wealth of credible data components, gradually opening up data chaining, data storage, data calculation, and data exchange. All links provide shared, co-governance, transparent, and secure underlying services for the petascale data economy market in the future, and become public facilities in the digital era of humanity.

LTCF chain's solution

As the data economy develops and evolves in depth, the data economy faces several major challenges:

The challenge of data ownership

With the application of personal data in more business scenarios, the huge value of data has become the consensus of the whole society and an important resource for business competition. Although it is a general trend that the ownership of personal data belongs to the individual who generates the data on a global scale, due to the lack of convenient means and effective incentive schemes for managing their own data, in the current traditional Internet ecosystem, it is The popularization of "data managed by individuals" is still difficult. In addition, from the perspective of the economic utility of the whole society, strictly controlling the use and development of personal data by commercial companies has also caused a waste of data resources and hindered the effective allocation of data, an important resource, in the whole society. The data economy ecology urgently needs a dual solution that not only guarantees user data ownership, but also allows data resources to be effectively used.

Data leakage and quality issues

The centralized data storage and use schemes of Internet commercial organizations can never escape the moral hazard of data abuse and the security risk of being attacked. This not only brings great danger to personal privacy, makes us become "network transparent people" with a little carelessness, and also causes high security costs for enterprises. The repeated outbreaks of data security incidents have also changed the public's eagerness for big data to talk about it. Behind the sunshine of the big data era is the industry shadow of the flood of junk data. Due to the existing centralized data management model, whether it is an enterprise or an individual, it requires extremely high costs to verify the authenticity of data, and there are very few accessible channels. The cost brought by the difficulty of authenticating data as an important means of production greatly reduces the efficiency of collaboration in the data economy.

Data incentive problem

Personal data will still be the main source of data in the future. At present, most of the public have insufficient motivation for the collection and management of personal data. The core lies in the lack of incentives and the inability to feel the value of data. Although individual personal data is tiny, it is like the capillaries of the data economy, occupying 97% of the human blood vessels. Only by activating the individual's awareness of data collection, management and application, can the data economy obtain more fresh blood. In the current data ecosystem, individuals are the producers and contributors of data, but Internet companies have cut away most of the cake in the data economy. If there is a better data benefit distribution plan that can obtain multi-party consensus, not only individuals can benefit from To obtain incentives in the production and sharing of data, companies will also legally obtain more dimensional data to make the overall scale of the big data economy.

LTCF Chain Technical Architecture

  • Data layer

    The data layer is the bottom layer of the blockchain model, and the data layer describes the chain structure of the block. In addition to this, the design of a multi-signature account model is introduced, which is stored in the memory as an object. On the basis of the account model, the LTCF Chain introduces the concept of digital identity, that is, each account on the LTCF Chain can be mapped To a unique digital identity; blocks, accounts and digital identities constitute the data layer of the LTCF Chain.

  • Network layer

    The WrightChain network is a distributed topology network composed of all nodes, and each node on the network is point-to-point The nodes are connected to each other in the same way, each node can independently verify all blocks and transactions, and there is no special node. The P2P network is an important infrastructure on the blockchain data layer; the network layer realizes the underlying mechanism for nodes to discover, connect, and communicate with each other in the network, and supports the efficient and stable operation of the Litechain blockchain system.

  • Data security

    The WrightChain network is a distributed topology network composed of all nodes, and each node on the network is point-to-point The nodes are connected to each other in the same way, each node can independently verify all blocks and transactions, and there is no special node. The P2P network is an important infrastructure on the blockchain data layer; the network layer realizes the underlying mechanism for nodes to discover, connect, and communicate with each other in the network, and supports the efficient and stable operation of the Litechain blockchain system.

  • Contract layer

    The contract layer of the LTCF Chain consists of multiple built-in contracts, smart contracts and oracles, and on this basis, cross Chain relay, so that the Wright chain can achieve credible cross-chain interactions with homogeneous and heterogeneous chains.

  • application layer

    Like the application layer in the traditional OSI model, the application layer of LTCF Chain provides an interface for application software. At the same time, it provides client-side encapsulation in multiple languages ​​to simplify the calling process. The application layer mainly includes the following parts: Through the simplified cross-chain interaction components provided by the application layer, the inter-chain between the Wright chain and the Para-chain, the App-chain and the Distributed Business Consortium Chain can be realized communication.

  • Trusted Data Component

    A credible universal digital identity will be the passport to the blockchain world, opening up all blockchain applications and allowing users Unblocked in the world of blockchain. A decentralized and non-tamperable blockchain is the best solution to strengthen the trust between identities. The influence of digital identity is enormous. It can not only affect the demographic coverage that currency can cover, but also involve the collaborative consensus of everyone in the world. Behind the anchor of digital identity are asset ownership, personal information, personal background, credit history, and social relationships. Like currency, it requires strong trust.

Core functions

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Application scenario

  • Personal data rights

    By uploading data to the chain, data ownership, control and income rights can be returned to users, allowing users to become the owners of their own data , So as to reconstruct the credit society through the blockchain. In the current Internet world, personal data is not well protected, such as data theft, black market proliferation, wrong ownership of data, etc. Personal data security issues frequently occur, and more than 50% of the world’s top 500 companies have reported Data security issues such as data leakage and hacker attacks. The major Internet giants and data black market merchants use data processing and trading to take the value generated by data into their own. Using blockchain technology, after the user’s authorization, tools are provided to allow users to self-collect their own Internet data and save it on the LTCF Chain through asymmetric encryption, and at the same time hand over the only key "Data-Key" that can unlock the data The user himself manages, and the user has complete control over the ownership, control and income rights of the data. When an application wants to obtain or use personal data, it needs to be authorized by the individual. After the individual unlocks the data through the Data-Key, the application can view or use the personal data. Individuals who authorize applications to use their personal data can obtain corresponding token rewards.

  • Financial Services

    Data is the core of financial applications, and most financial products are based on data. Risk and return are the core content of finance, and risk control relies on massive amounts of data. LTCF Chain is a trusted data basic chain, and its reliable data can provide the best risk control support for financial application scenarios. For example, credible uploading of enterprise ERP data, inventory data, cash flow data, logistics data, business flow data, etc., and then credible data calculation and exchange based on the data on the chain, can provide real and effective supply chain finance Risk control services. The immutability, openness and transparency of the data on the chain better guarantee the authenticity and consistency of the input data in the financial risk control model.

  • Mobile socializing

    LiteChain-based blockchain social applications can better solve some of the pain points of existing Internet-based social networks . Data storage on the chain and asymmetric encryption can ensure the authenticity and security of user information. Trusted data exchange allows users to exchange information at ease and reduces information asymmetry in social interactions. Decentralized social platforms can keep users away from the forced distribution of Internet platforms, return content review rights to users, and improve the quality of the content on the platform. In addition, the introduction of the Token economy can better stimulate the output of high-quality content.

  • Entertainment games

    Game user bonus decays, game life cycle is short, except for a few head games, there is a lot of room for improvement in payment rate and ARPU small. In addition, the concentration of oligarchs continues to increase, making it difficult for small and medium-sized game manufacturers to survive. The development of the blockchain has given practitioners in the game industry an opportunity to break through the predicament. On the one hand, the blockchain has formed a globally distributed high-net-worth user group, providing more mining space for game ARPU. On the other hand, the development of the blockchain industry is still in its early stages, and it is a fairer market for new entrants. At the same time, the Token economy can give game participants a stronger sense of incentive and project participation. Blockchain games will be a globalized new market with a high-quality user base, giving new game manufacturers a fair starting point. The millions of high-net-worth users and extremely convenient token issuance and circulation experience of LTCF Chain are the best catalysts for blockchain games.

  • Medical Health

    The medical industry is an important industry related to people’s livelihood, and the industry scale is huge. Blockchain also has a huge room for play in the medical industry. Blockchain can trace every transaction between drug manufacturers, wholesalers, pharmaceutical companies and patients, verifying and protecting drug information that is important for tracking counterfeit drugs and other issues. In addition, unregulated distribution of some potential drugs can be avoided. LTCF Chain is committed to solving the problem of efficient and safe circulation of medical data in various fields, and uses Token economy to fully encourage users to upload medical data on the chain. For example, an individual's medical data can be authorized to view by a specific business company, and the individual can be rewarded with Token. In addition, the project can also solve the problem of medical data isolation encountered when seeking medical treatment overseas. Through blockchain applications, individuals can safely and quickly share medical data with overseas hospitals.

  • Clothing, food, housing and transportation

    The massive credible data on the Wright chain can provide the cornerstone of credit evaluation for food, clothing, housing and transportation applications. The data of enterprises and institutions is more like a collection, with a large volume but a small overall volume. Personal data is more like the capillaries in the human body, thin and heterogeneous, the individual body is small but the total number is large. The final data must be returned to the individual. These data are taken from the individual and used for the individual. We believe that with the continuous expansion of personal data dimensions, the value of the C-end market is far greater than the value of the B-end market. These user data, after cleaning and processing, can have a very wide range of use.